Netflix's Radford Studio Center Purchase Has Not Closed, Hudson Pacific CEO Says

Hudson Pacific Properties CEO Victor Coleman said on a Nov. 5, 2026, earnings call that Netflix has not closed its proposed purchase of the Radford Studio Center lot in Studio City and may not decide until later in the year, "or not," according to reports by The Hollywood Reporter, TheWrap and Deadline. A Netflix spokesperson told TheWrap the deal is progressing on the agreed timetable and milestone dates, while The Hollywood Reporter reported that Netflix's initial 90-day due diligence period has been extended.

Nov 08, 2026 - 13:19

Updated: 2 hours ago

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Netflix has not closed its proposed purchase of Radford Studio Center, the historic production lot in the Studio City section of Los Angeles, Hudson Pacific Properties CEO Victor Coleman said on the real estate company’s third-quarter earnings call on Thursday, Nov. 5, 2026. “Netflix has not closed that transaction, and they are not deciding to close it until sometime maybe later in the year, or not,” Coleman said, according to a transcript of the call. The Hollywood Reporter, TheWrap and Deadline reported his remarks on Nov. 6.

Accounts from the Netflix side describe the deal as on schedule. A Netflix spokesperson told TheWrap that the deal “is progressing on the agreed upon timetable and with the agreed upon sets of milestone dates.” The Hollywood Reporter attributed the same words to a source close to Netflix and said the company itself declined to comment, while Deadline said Netflix did not respond to its request for remarks and quoted a source close to events using that language.

What Hudson Pacific said on the call

Coleman, whose company is Netflix’s landlord in Hollywood, said on the call that he could not comment on Radford beyond the fact that the transaction had not closed, and added, “That’s not a concern of ours,” according to the transcript, a remark also reported by The Real Deal in a story syndicated by Yahoo Finance.

Coleman also said Radford would not replace the offices Netflix rents from Hudson Pacific. “The replacement of Radford for their existing office doesn’t fit the footprint, as we’ve talked about in the past,” he said, describing “very fruitful, very productive conversations” with the streamer. He said he expected “some resolution on some levels of that, hopefully by year end,” and that talks about Netflix extending beyond 2031 were “looking in the direction that we’re comfortable with.”

According to The Hollywood Reporter, Netflix is Hudson Pacific’s third-biggest tenant and leases the ICON, EPIC and CUE buildings at Sunset Studios. THR and TheWrap both reported that Netflix leases more than 700,000 square feet from the company, and THR said those leases, including the 13-story EPIC office building on Sunset Boulevard, are scheduled to expire in 2031.

Due diligence extended

The Hollywood Reporter reported that the initial 90-day due diligence period for Netflix to examine the Radford property has been extended, citing a person familiar with the transaction. That person cautioned that the extension does not necessarily mean the deal will not close, according to THR. Deadline separately reported that the streamer was granted more time late this summer to examine the property.

THR estimated the transaction at $330 million to $400 million, while Deadline described it as a purchase of more than $400 million. THR reported that the expectation in Hollywood real estate circles is that the deal will ultimately close, quoting one source as saying, “Everyone assumes it’s going to get done.” The same source told THR that Netflix has been cancelling some obligations with Hudson Pacific.

Deadline reported that no required filings had been made with the Securities and Exchange Commission or Los Angeles County for the Radford purchase. A Los Angeles real estate insider told Deadline, “They haven’t signed on the dotted line, that will all likely happen later this year,” and called the deal “a priority.”

The Radford lot and its owners

Radford spans 55 acres and has “22 stages, 210,000 square feet of office space and 172,737 square feet of support space,” according to specifications cited by Deadline. Deadline reported that the lot, once known as Republic Studios and long a CBS production hub, is where Seinfeld, Gunsmoke and The Mary Tyler Moore Show were filmed, and that current tenants would need to have their leases bought out if Netflix took over.

Hackman Capital Partners bought the lot, then known as CBS Studio Center, from ViacomCBS for $1.85 billion in 2021, according to TheWrap, which said the company pledged in 2023 to invest $1 billion in renovations. Deadline reported that a Goldman Sachs-led group took over Radford after Hackman defaulted on a $1.1 billion loan early this year, and that Netflix’s talks with Goldman began in April.

Hudson Pacific’s Hollywood portfolio

In its third-quarter results release, Hudson Pacific reported a net loss of $218.1 million, or $3.38 per diluted share, and said its Hollywood studio stages remained 95.0% leased. The company said that, together with its joint venture partner, it extended the $1.1 billion Hollywood Media Portfolio loan to November 2027 with no principal paydown. The Real Deal identified that partner as Blackstone.

The Hollywood Reporter reported that the uncertainty over Netflix’s space needs hangs over Hudson Pacific’s effort to refinance that 2.2 million-square-foot portfolio, which includes Sunset Gower Studios, Sunset Las Palmas Studios and Sunset Bronson Studios. Hudson Pacific President Mark Lammas said the company’s “first priority is to continue our conversations” with Netflix, according to THR, adding that only after gaining clarity on Netflix’s requirements would it be productive to reengage with the lender.

Netflix’s wider studio footprint

Deadline reported that Netflix lost out earlier this year to David Ellison in the contest for the Warner Bros. lot in Burbank. Outside California, according to Deadline, Netflix operates Netflix Studios Albuquerque, a 108-acre campus with 12 soundstages, and the six-stage Netflix Studios Brooklyn. Its nearly 300-acre Netflix Studios Fort Monmouth project in New Jersey is under construction at a cost of more than $1 billion, with 12 planned stages expected to open in phases next year and in 2028.

THR reported that the Radford talks come as filming levels in the Los Angeles region hover around historic lows, and that Netflix and other studios have prioritized shooting in states and countries with lower costs and more generous subsidies. Arise News summarized the competing accounts on Nov. 7, and no closing had been announced as of Sunday, Nov. 8.